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Dominic Sewela, a South African businessman and executive, has established himself as one of the nation’s affluent business executives thanks to his minority stake in Barloworld.
Sewela’s stake, valued at $2 million, further solidifies his position as one of the country’s leading executives.
Barloworld, established in 1902, is recognized as one of the country’s oldest and most reputable companies, specializing in industrial processing, distribution, and service provision.
In its 2022 fiscal year, Barloworld reported an impressive 9.5-percent increase in revenue, which increased from R44.9 billion ($2.48 billion) to R49.2 billion ($2.72 billion).
This substantial growth in its revenue translated into a remarkable 32-percent surge in operating profit from core trading activities, surpassing R5.5 billion ($300 million).
Sewela, the current group CEO of Barloworld, holds a 0.23-percent minority stake in the South African industrial powerhouse, amounting to 428,401 ordinary shares.
At the time of writing, Barloworld’s shares on the Johannesburg Stock Exchange were valued at R84.69 ($4.66) per share, resulting in a market capitalization of R16 billion ($890 million) for the company, firmly establishing it among South Africa’s top 100 most capitalized firms.
Considering the company’s current share price, Sewela’s 0.23-percent stake in Barloworld is worth R36.1 million ($2.01 million). This solidifies his standing as one of South Africa’s most affluent executives, adding to his impressive track record in the industry.
Sewela’s ties with Barloworld date back to 2007 when he rejoined the company as the CEO of the Equipment Division South Africa. His dedication and contribution led to subsequent promotions, including COO of Barloworld Equipment Southern Africa and later the role of CEO.
He officially joined the board on March 19, 2014, and assumed the position of deputy CEO on March 1, 2016. His appointment as the group CEO of Barloworld took place on Feb. 8, 2017.
